When I post bank transactions to the Directors loan account by transferring between accounts, this just creates a list of payments from the bank with no details. How do I pull through the details into the actual nominal account, so its easy to show the director what he has spent money on? I would like to bring through the bank reference, e.g. ‘‘payment to super expensive restaurant’’ into the loan account lines. I can see a quotation mark in the loan account, but cannot get any details to pull through into this. Is this possible at all?
If a director is covering expenses out-of-pocket then these items should be logged as a purchase invoices, paid from the DLA account. The bank transfer only comes into effect when the company is reimbursing the director. So basically all the details relating to those expenses is present in the purchase invoices.
Hi
Clicking on the purchase invoices is time consuming and does not let me print a simple list out and give it to the director. This is not a situation where the director is making payments for company expenses - he is using company money to finance his own transactions. What I need to do is load the description from the bank statement into the posting so it appears in his current account. I can then list out all the personal expenses he has made and ask him to reimburse the company. Is there any way I can do this?
OK then I think you’ve already identified where this information can be entered.
The slide-out boxes are available in all bank accounts and detailed ledger views. When you say it’s not pulling though, are you referring to the CSV download?
No - when I type into that box, for example copy and past the description from the bank statement, it does not follow through to the nominal ledger. It also does not pull through if I post directly to the directors loan account. I have to copy and past the description from each transaction, so post in directors transactions is taking hours.
The bank account is a nominal ledger. Although in the context of a bank transfer there are two entries in two different ledgers… one in 1200 (current account) and one in 1201 (directors’ loan account). When you add notes to one it won’t copy those notes to the other balancing transaction, they are two separate ledger entries and in some cases you may actually want separate notes.
I think I understand what you’re trying to do here I’m just not sure at this stage what the impact of that would be on other users if the notes copied across automatically like this.